2023 half-year results in line with expectations. Traffic assumptions and financial targets confirmed 

- Revenue: €2,545M, up +9% driven by traffic growth, both in Paris and internationally, and strong momentum in retail activities, with Extime Paris Sales/Pax [1] reaching €29.6 (+€4.1 vs. 1sthalf of 2022 and +€7.1 vs. 1st half of 2019);
- EBITDA: €863M, up +22.9%; EBITDA margin at 33.9% of revenue, reflecting the combined effect of business seasonality, the trend in operating expenses, and a normalization of Almaty's performance;
- Operating income: €449M, up +6%;
- Net income attributable to the Group: €211M, up +31.8%;
- Net financial debt: €8,089M, with a Net Debt to EBITDA ratio of 3x over the last 12 months;
- Traffic assumptions, forecasts and financial targets for 2023-2025 are confirmed. 

Augustin de Romanet, Chairman and CEO of Groupe ADP, stated: "Half-year 2023 results are in line with our expectations. Since the beginning of the year, we have welcomed 155.4 million passengers across our airport network, including 47.1 million in Paris. Momentum is strong in our retail activities, with Extime sales per Pax at 29.6 euros, up +4.1 euros (+16.2%) compared with the 1st half of 2022, and +7.1 euros (+31.7%) compared with the 1st half of 2019. Overall, the group records revenue of 2,545 million euros, up +26.9%. EBITDA reaches 863 million euros, representing a margin of 33.9% of revenue, in line with our forecasts. Net income attributable to the Group is up +31.8% to 211 million euros. Our activities are by nature seasonal, alternating peaks in traffic in our airports during holidays periods with weeks of more moderate traffic. Post-Covid, as activity recovers, we see in the airlines' offering a trend that strengthens the seasonality effect which could further improve performance in the 2nd part of the year. Our assumptions remain unchanged: 2023 traffic is expected to reach up to 93% of 2019 level in Paris Aéroport and to get close to 2019 traffic at group level. Our financial forecasts are confirmed, with an EBITDA margin expected between 32% and 37% of revenue this year. I would like to pay tribute to the commitment of Groupe ADP teams who, in a challenging context, are mobilizing their expertise and sense of hospitality for the success of the major sporting events to come in France and for the pursuit of the decarbonization of aviation with our "2025 Pioneers" roadmap. During summer 2024 especially, the Paris Olympic and Paralympic Games will start and end in our airports for many people: it is a wonderful challenge for the whole airport community, as well as for our territories, and a unique opportunity to demonstrate our expertise and commitment."

The Half-year 2023 results have been approved by the Board of Directors of July 27th, 2023. They have been subject to a limited review by the statutory auditors, and the limited review report is in the process of being issued.

Key figures

[1] Sales per passenger in the airside activities, including shops, bars & restaurants, foreign exchange & tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area.
[2] Changes vs. 2022 and traffic % vs. 2019 hereabove are calculated on a like-for-like basis, by comparing 2023 traffic data with historical traffic data for the current scope (see Appendix 2 of this press release), except from Goa airport in 2023, opened on January 5th, 2023.
[3] Group traffic includes airports operated by Groupe ADP in full ownership (including partial ownership) or under concession, receiving regular commercial passenger traffic, excluding airports under management contract. Historical data since 2019 is available on the company's website.
[4] Sales per passenger in the airside activities, including shops, bars & restaurants, foreign exchange & tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area.
[5] Net financial debt compared to EBITDA over the last 12 months.

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